Don't Raise College Loan Interest Rates, Voters Tell PPP

Public Policy Polling (PPP) just released a poll that proves what most folks studying the issues suspected -- Americans want the cost of college loans kept ankle deep or lower.

According to the poll out Tuesday morning, more than four in five voters, that's 83 percent, want Congress to either keep interest rates on subsidized federal Stafford student loans where they are now, or lower them significantly. It was a completely bipartisan result -- voters of all partisan stripes are in agreement; 86 percent of Republicans, 84 percent of Democrats, and 77 percent of independents want Congress to get off its collective backside and take action before rates double July 1.

See the related story now on Sunshine State News.

Taken June 11 and 12 and commissioned by liberal group MoveOn.org, the poll also finds that roughly three-quarters of voters say they would be less likely to vote for their representative if he or she voted to double rates to 6.8 percent (74 percent opposed), or allowed them to increase to a maximum of 8.5 percent (77 percent opposed).

In a surprise finding, PPP finds Republicans even slightly more likely than the overall electorate to punish their representatives for raising rates; 82 percent of them would look down on a candidate for letting rates rise to 8.5 percent, and 77 percent would disapprove if they let rates double to 6.8 percent.

Voters like the legislation proposed by Sen. Elizabeth Warren of Massachussetts, known as the Bank on Students Loan Fairness Act. They support it by a 2:1 margin (60 percent for, 30 percent opposed).

The polling is being released as MoveOn escalates its campaign on student loans. In the next two weeks, MoveOn members will be engaging in a June 27 National Day of Action at congressional district offices and in D.C., flooding congressional offices with phone calls and faxes, and promoting the campaign on social media. More than 442,000 MoveOn members have signed the MoveOn petition created by Sen. Warren calling for students to receive the same low loan rates as the big banks.

Said Anna Galland, executive director of MoveOn.org, If Congress fails to act and students see their loan rates double, then they will have a huge political problem on their hands. ..."

See PPPs memo here.

See the full polling results here.